Mumbai has always been a place of quest for the people who comes from other state in search of bread and butter. Mumbai is known for land of opportunities so people come here to test their luck from other state and cities. They do hard work for both to earn and as well to find place to stay in. They always find difficulty in good residing and spacious homes. Mumbai due to its limited land availability to live and people who want to accommodate in it are more.
Mumbai is basically a bay that's why Britishers called it as Bombay surrounded by water on three sides. Development in Mumbai has always been one-direction starting from the south towards the northern side and extended as suburbs and it restricts circular development of the Mumbai city. Earlier Mumbai was from south Mumbai(CST) to Byculla later it was extended to Dadar and now till Sion station in central zone. Now to it has a suburb which is extended till Mulund. While in the western part of the railway it is from Churchgate to Dahisar including suburban part of Mumbai. And the harbour part is from CST to Mankhurd including suburbs. After Mankhurd there comes new place to live which formed recently in the past two decades after the year 1990 called Navi Mumbai. The new land part of Navi Mumbai is covering the land from Vashi and covers till Panvel i.e. New Panvel.
These developments of suburbs and Navi Mumbai occurred because much of the old land in Mumbai is currently under slums and dilapidated buildings restricting new areas for development. Major projects such as thecoastal road network, Mumbai's trans-harbour link, international airport building at the Navi Mumbai etc. have made very progressing Mumbai development slow, forcing people of the city to live in established localities.
Mumbai being the preferred choice for residing, especially for the migrants not only from other parts of the Maharashtra state and but also from other states and cities. Mumbai generates jobs nearly double of the country's average per capital income and is one of the prime reasonsattracting a lot of migrants from other parts of the country. Even the existing Mumbai's residents require additional homes because nuclear families are on the rise these days. The way opted by such inhabitants is to sell their small apartment in a prime area and purchase medium or big size of apartments in a relatively sub-prime area. So, inherent demand from Mumbai's local inhabitants is always rising, which reflects on property prices.
This continuous migration of people to Mumbai is encouragingowners of property or homes to hold onto high prices. Also Non-Resident Indians(NRI) and big people of Indian origin comprise a significant chunk of residential real estate buyers in Mumbai, driving up prices. Sad part is that usually half the inventory in new projects especially prime property is booked by such investors even before local brokers gets wind of the launch and its news comes to ear of actual buyer or to the common person only after the token are sold. Investor enjoys good profit with practice.
Over the 2013-2015 state policies of Maharashtra government has been a continuously increasing ready reckoner rate by 15 to 20% across Mumbai city and due to this property square feet rates are increasing day by day.
Based on the facility, locality considering nearby facilities available like markets, station area, road nearby, schools, colleges, hospitals or near to famous landmark area prices of each locality you will find high or low. For simplification we have drawn out area prices table down below available from leading resources from internet in different part of Mumbai from south Mumbai towards Thane, Borivali and Navi Mumbai. Following is the table of the property locality wise which is an approximation costing detailsof the land sq.ft. wise if you wish to purchase property suggesting to do a quick reconfirmation of pricing from various available othersources like estate agents, property consultants, various media having updated information on the property costing.
|Locality||Price range Sq.feet - Residential||Price range Sq.feet - Commercial|
|Byculla||22,525 to 30,770/sq.ft.||35,000 to 1,10,770/sq.ft.|
|Dadar||29,708 to 36,720/sq.ft.||24,768 to 39,625/sq.ft.|
|Matunga||27,498 to 34,340/sq.ft.||-|
|Sion||25,372 to 31,535/sq.ft.||15,709 to 28,615/sq.ft.|
|Kurla||11,262 to 17,340/sq.ft.||-|
|Ghatkopar||13,396 to 20,212/sq.ft.||-|
|Powai||16,872 to 20,995/sq.ft.||-|
|Hiranandani - Powai||27,498 to 32,172/sq.ft.||-|
|Vikhroli||12,559 to 17,405/sq.ft.||-|
|Bhandup||11,942 to 14,578/sq.ft.||-|
|Mulund||13,090 to 17,765/sq.ft.||-|
|Thane||8,415 to 11,602/sq.ft.||-|
|Bandra||25,925 to 42,500/sq.ft.||24,611 to 40,699/sq.ft.|
|Khar||33,278 to 39,652/sq.ft.||18,000 to 25,000/sq.ft.|
|Vile Parle||23,630 to 28,305/sq. ft.||14,000 to 21,000/sq.ft.|
|Andheri||14,832 to 22,822/sq.ft.||13,199 to 26,350/sq.ft.|
|Jogeshwari||12,750 to 23,375/sq.ft.||18,000 to 25,000/sq.ft.|
|Goregaon||14,195 to 18,062/sq.ft.||13,000 to 22,000/sq.ft.|
|Malad||12,410 to 15,725/sq.ft.||-|
|Kandivili||12,155 to 16,065/sq.ft.||-|
|Borivali||13,515 to 16,660/sq.ft.||24,611 to 40,699/sq.ft.|
|Dahisar||9,435 to 14,492/sq.ft.||-|
|Mira Road||6,970 to 7,650/sq.ft.||-|
|Bhayendar||6,460 to 8,330/sq.ft.||-|
|Chembur||14,152 to 18,955/sq.ft.||13,878 to 24,389/sq.ft.|
|Vashi||8,882 to 17,000/sq.ft.||-|
|Jui nagar||8,330 to 9,860/sq.ft.||-|
|Seawoods||8,775 to 18,020/sq.ft.||-|
|Nerul||9,392 to 17,892/sq.ft.||-|
|Belapur||6,162 to 11,475/sq.ft.||-|
|Kharghar||5,312 to 10,498/sq.ft.||-|
|Panvel||5,398 to 6,290/sq.ft.||-|
|New Panvel||4,718 to 6,162/sq.ft.||-|